Prior to going bankrupt, Hanjin Shipping had chartered five, 3,400-TEU vessels and eight, 10,100-TEU vessels from Danaos.
The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
The terminal operator increased spending from $70 million to $200 million in preparation for ultra large containerships.
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Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
The Floridian port is ready to launch a second round of investment - this time with the goal of increasing capacity and service levels within the container yard.
Yang Ming responded by saying it has unwavering support of Taiwan’s government and has "proactively reorganized internally to effectively reduce its operating costs."